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I wonder if the deal with JBIT would be canceled if the reverse split was voted down.
Net effect would be 120 million more common shares for a total of 620 million common shares instead of 500 million.
That is not that big a difference.
But before any new shares were put into the market, we old long term holders would then have an equal share of the new company.
We would have 150 million shares and JBIT folks would have 150 million shares.
As I said, I wonder if the reverse split gets voted down whether that would kill the deal.
I may cause the deal to be changed some.
Thoughts anyone.
Can anyone talk to someone in the know and feel them about this item?
If all of the 500 million shares to raise capital with are not used than everyone's percent ownership would be larger.
The way I interpret all of this (as related to share structure) is:
1. Reverse split (five for 1) existing 150,000,000 common shares resulting in 30,000,000 common shares. This is the current shareholder's portion.
2. GPGI now has a total of 30,000,000 shares.
3. Increase authorized shares (A/S) to 500,000,000 common shares and 100,000,000 preferred shares.
4. Give the JBIT folks 150,000,000 of the new 500,000,000 common shares to purchase them. They now have 5 times the shares we long term shareholders own.
5. Our 30,000,000 shares plus JBIT's 150,000,000 shares total 180,000,000 shares leaving 320,000,000 common shares to raise money with.
I received a proxy from American Registrar and Transfer Co. dated September 24, 2010.
Per their web site ARTCO is the transfer agent for over 300 small cap companies incorporated all around the United States.
From the proxy (not verbatim as I have to type it all in):
For shareholders as of September 17, 2010.
A Global Platinum & Gold, Inc. shareholder meeting is to be held 10:30 AM local time October 29, 2010 at:
JP Morgan
Conference Room
1725 E. Skyline Dr.
Tuscon, AZ 85718
Items to be voted on:
1. Global will acquire all issued and outstanding shares of JBIT in exchange for approximately 150,000,000 post-split unregistered common shares of GPGI. JBIT would continue operation as a wholly subsidiary of Global.
2. It is proposed that ARTICLE ONE [NAME] be amended as follows.
ARTIVLE ONE [NAME]. The name of the corporation is Bourque Industries, Inc.
3, It is proposed that ARTICLE FOUR [CAPITAL STOCK] be amended as follows.
500,000,000 common shares
100,000,000 preferred shares
There was a lot more text in this item which I didn't put here - just trying to post the meat and potatoes.
4. It is proposed an additional ARTICLE TWELVE [LIMITATION OF LIABILITY] be added. In my words it is basically to protect management from being sued by shareholders, unless intentional actions were done to harm shareholders.
5. The reverse split.
Effect a reverse-split on a five for 1 (5x1) basis. There are currently 148,052,449 common shares issued and outstanding.
After the reverse spit, but prior to any shares being issued pursuant to the Agreement and Plan of Reorganization,there will be 29,610,490 common shares issued and outstanding.
All fractional shares that exceed on half shares will be considered to be one share.
The letter is by the order of the Board of Directors of Global Platinum & Gold, Inc.
The letter is signed by Russell Twiford, Vice President.
His name is just typed with space for a signature, but no handwritten signature.
The proxy is stapled to the letter.
It looks like the only way to respond is by snail mail - The transfer agent does not have an automated means to respond. Proxyvote.com requires a control number which does not exist for this.
wouldn't be surprised if Swift offered shares in his new company as payment.
Welcome back ryall
I'm still here and read every post except the folks I have on ignore and the replies to those posts.
It is not getting news from SP that I'm sick and tired of - he is busy building the company. I hope he continues building the company. When he has worthy news, I'm sure he will tell us.
It is the negative posters who constantly say the same thing over and over again that I'm sick and tired of, thus I post even more infrequent than my usual infrequent posts.
Enhancement request.
I'd like a feature to where responses to ignored posters could be ignored (invisible to me) as well as the ignored poster's messages.
It should be a separate option, in case some people like it the way is now.
Thanks.
I agree it will probably be a couple of years yet.
But one nice sale from any part of the company could give us a nice jump start. You better have all the shares you want before that is announced.
Plus the increasing steady income from the 1world card keeps building a solid income base.
I would like dollar land very much.
By my way of calculating, share price equals net profit times a price earnings (P/E) ratio.
For a fast growing company the P/E can be 20. That says the shares are priced at 20 times net profit.
Thus a net profit of .05 per share times a P/E of 20 would give the $1.00 share price.
To calculate how much income is needed, take the net profit of .05 per share and multiply it by the number of shares (2.5 B).
An annual net profit of $125 million dollars is needed at a P/E of 20 to make the share price $1.00.
That translates to a quarterly profit of $31.25 M ($125 divided by 4 quarters in a year).
The question is how long will it take the company to get to $31.25 M net profit per quarter. I'll let others speculate on this.
If you don't like the high 20 P/E, half it to 10 and double the amount of net profit required.
JBIT will be at a conference in Orlando in October. From the "Letters from CEO" on the JBIT site.
JBIT will be launching our complete line of STAND ALONE and In-Conjunction with plates along with JBIT’s line of Aircraft, Vehicle ballistic protection at the International Police Chief’s Convention in Orlando Florida October 21st thru the 26th.
Great! Lets see GPGI finally do something after all these years.
Yes, I'd like to see them actually get a project working also.
It is great to see Swift as a defendant.
Someone should have put him out of our misery a long time ago.
Metal-Mining Bacteria Are Green Chemists
GPPI should look into this.
http://www.sciencedaily.com/releases/2010/09/100901191137.htm
Solar panels market is $24 Billion!
Just saw this in an article.
The statement was:
The current market size for solar panels is about $24 billion, Mazumder said.
The article was on a related subject of keeping dust off solar panels, but the $24 Billion figure near the bottom of the article caught my eye.
Here is a link to the article:
http://www.sciencedaily.com/releases/2010/08/100822150641.htm
Evidently the financial reports are taking longer than anticipated.
The 8/13 PR says they will be released when they are finished. Maybe Steve did not know how much longer it will be, so did not provide another date if the 8/13 PR.
He does say they will be released when finished. I've got to take his word on that. He has delivered on most everything except the bank approval and then he did explain the reason (although late).
It is not surprising that the initial audit would take longer.
Who knows what all information the auditors need that Steve didn't remember to provide initially.
All four divisions of the company may not have had everything needed.
No worries on my part. Just wish I could add a few million more shares.
From the 8/13 PR:
In an effort to become fully reporting and provide greater transparency, One World is pleased to announce that Baker Tilley, an international accounting firm located in Hong Kong, is completing the audit of the company's financials. Once finished, One World will release the report at which stage the company will meet all the SEC requirements to be a fully reporting company.
We need to get them to contact this outfit. They are looking for protection.
http://www.bbc.co.uk/newsbeat/10999019
Not bad at all today. 1.5 M sells to 5 M buys.
I think most who sold today were going to sell on news anyway.
They had profit and in pinky land you take profit before it turns otherwise. They probably barely know what OWVI does - it is just another ticker symbol to them.
.06 AUTO
.083 RAJA
.095 NITE
.095 DOMS
.245 HDSN
Y'all take good care of OWVI while I am at work today.
OWVI is ready to make big gains, we just don't know what, if anything, will trigger the move, nor do we know when it will happen.
Posted this on the BB's Stock Haven board.
OWVI - Time to accumulate.
OWVI finished their financing needs. They are ready to grow, even faster than before.
OWVI - No further dilution. T/A has been un-gagged.
OWVI has a CEO with a proven track record, who already made another company successful.
OWVI is completing audits by a large, well-known firm and will be fully reporting shortly (possibly this coming week).
OWVI has increasing income quarter after quarter.
OWVI has four divisions, a cash card, a medical devices company, a LED lighting company, and a solar division.
OWVI has huge potential.
OWVI is way undervauled at present.
OWVI - Do your DD. Go to the OWVI board.
OWVI - recent skeptical posters have now become positive.
OWVI - Time to accumulate.
OWVI finished their financing needs. They are ready to grow, even faster than before.
OWVI - No further dilution. T/A has been un-gagged.
OWVI has a CEO with a proven track record, who already made another company successful.
OWVI is completing audits by a large, well-known firm and will be fully reporting shortly (possibly this coming week).
OWVI has increasing income quarter after quarter.
OWVI has four divisions, a cash card, a medical devices company, a LED lighting company, and a solar division.
OWVI has huge potential.
OWVI is way undervauled at present.
OWVI - Do your DD. Go to the OWVI board.
OWVI - recent skeptical posters have now become positive.
I agree. I think the LED part of OWVI will add lots to the bottom line.
I'm looking for OWVI to double many times right up into the pennies.
....even if it should only double
Good morning OWVI folks. Looking forward to watching my OWVI stock in the coming weeks. Good luck to all OWVI holders.
You've got the point.
It would be interesting to see the effect during a trading day.
OWVI is getting everything lined up and about to bring nice results.
If you read the buzz cloud description, it says it is based on how may times a ticker symbol is mentioned in posts.
If everyone would put OWVI in each post, that would make it more visible.
There are also links to look on the buzz cloud to see it for different time intervals, from the default of 24 hours down to just the past 1 hour.
Go OWVI.
Is this based on something you heard/know or are just speculating.
Thanks!
I am ready any time now.
Agree. Although there will always be traders and profit taking along the way. Do we know if the initial 2B is all in the float, or does an investment firm still hold lots of those that could be sold?
I also really like the LED product and it has the potential to bring in some real nice contracts and profits to really boost a quarterly report.
I'm just as excited about the diabetes product as the the cash card.
There is a huge market for diabetes products, and with so many people overweight nowadays, the number of diabetes cases will just continue to grow.
OWVI could run into the cents any time now, and settle around .02 or better.
Why do I think this is possible?
I'm comparing it to another stock I was in a few years ago.
The share structure of the other stock was similar.
2B shares with terrible financing.
A/S increased to 3.5B - more terrible financing
But the other company was for real also, and starting to bring in income, with good potential to greatly increase income.
The other stock ran to .11 and eventually settled around .02, poised to climb from there.
Once a company proves itself and substantial increased income is expected, the stock will take off.
One never knows what will trigger the run, or when it will start. It just happens, and quickly.
These are just my opinions, of course.
traz and bone,
If you sold another stock, you can use the funds to buy something else right away.
You just are not allowed to sell then new shares until after the 3 day funds clearance time passes.
not the prettiest, but here you go.
doms .071 .08 auto
nite .07 .083 raja
etmm .065 .095 doms
hdsn .06 .95 nite
IMO, AUTO bought 12,000 at .071 and is selling them at .078. He only has 1,000 left at .078
AUTO buying back in at .074
All above is just my opinion, which probably is not correct.
nite 15 16 nite
doms 14 17 etmm
ubss 10 18 hdsn
vndm 07 18 ubss
You might have something there, with the solar idea. Maybe he was testing it with his neon lights.
Hey Captain, Saw your parrot yesterday.
He was big colorful, bird (in neon lights) in a Mexican restaurant.
He kept scratching his head trying to figure out what's with OWVI. I told him to have a little more patience and all will be well.
He didn't look like he'd been in the Rum. Just had a sober, puzzled look on his face.